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Davis NY Venture Fund Portfolio Manager Commentary“…Selectivity allows us to reject the vast
majority of companies that make up the index
and instead build a portfolio of those few
companies that have above-average
growth and below-average valuations.”

This material must be accompanied or preceded by a current Davis Fund Prospectus. Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here or calling 800.279.0279. Davis Distributors, LLC, is the distributor of the Davis Funds. The Distributor may be designated as your broker of record, but solely for purposes of acting as your agent to purchase shares. The Distributor and its employees do not provide recommendations on these accounts or any other account where the Distributor is listed as the broker of record.

* As of June 30, 2019. This includes Davis Advisors, the Davis family and Foundation, our employees, and Fund Directors.

** All equity investments involve risk. No investor is guaranteed a profit.

1The Attractive Growth and Undervalued reference in this piece relates to underlying characteristics of the portfolio holdings. There is no guarantee that Fund performance will be positive as equity markets are volatile and an investor may lose money.